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Adebayo Ogunlesi set for Richest Men in Africa’s List as BlackRock Acquires Global Infrastructure Partners in $12.5bn Mega Deal

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BlackRock, the world’s largest asset management company, has announced a significant acquisition, revealing plans to purchase Global Infrastructure Partners (GIP), a firm founded by Nigerian investment banker Adebayo Ogunlesi, in a colossal $12.5 billion deal.

As outlined in a statement released on Friday, the deal involves BlackRock paying $3 billion in cash and offering 12 million shares in BlackRock to Ogunlesi and five other co-founders of GIP. This move positions them as the second-largest shareholders in the global asset management giant.

Furthermore, BlackRock has committed to appointing Adebayo Ogunlesi, the GIP Founding Partner, as chairman and CEO, to the board at the next scheduled board meeting post the deal’s completion.

The strategic acquisition is set to create a comprehensive global infrastructure franchise with differentiated origination and asset management capabilities, combining GIP’s strengths with BlackRock’s complementary infrastructure offerings.

Laurence Fink, Chairman and CEO of BlackRock, envisions transforming the firm into a key player in the growing market for private and alternative assets. The combined business, valued at over $150 billion, aims to deliver market-leading infrastructure expertise across equity, debt, and solutions on a substantial scale.

Fink expressed excitement about the long-term investment opportunities arising from the acquisition, emphasizing the benefits of broader origination and business improvement capabilities for clients.

Global Infrastructure Partners, with $106 billion invested in infrastructure, holds key assets such as Sydney, the Port of Melbourne, the Suez Water group, extensive green energy holdings, and a stake in a significant shale oil pipeline.

Adebayo Ogunlesi, a notable figure with a background at Credit Suisse First Boston, gained prominence after GIP’s acquisition of Gatwick Airport. The deal solidifies BlackRock’s position as the second-largest private investor and manager of infrastructure globally, managing a staggering $10 trillion worth of alternative assets.

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